Awesome

Good for playing the guitar.
But needs some additions.
Palm muting and slide guitar effects would make it perfect for an electric guitar.

To make it even better, I think you should be able to tune down 12 steps, because then I could use it as a bass. Or else you should make a bass effect or so you can switch to a bass or make a sepperate iShred Bass (iBass?) app.
Then this would be the best app ever.

SMR333 about iShred, v2.0.3